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U. S. President Joe Biden talks about an incredibly labor report before signing two spending to combat fraud in COVID-19 small business assistance systems at the White House on Aug. 5, 2022 in Washington, D. C. Credit – Evan Vucci—Pool/Getty Images
He kept the sunglasses. When Joe Biden stepped out onto the South Balcony of the White House on an incredibly hot August Friday in Washington, he raised his hand to take off his iconic aviator sunglasses, but without leaving them in place, perhaps a sign of his cheerful temperament after the release of an unprecedented jobs report.
“Today, there are more people running in america than before the pandemic started,” Biden said. “In fact, there are more people running in the United States than at any time in U. S. history. “July, according to data released Friday by the Bureau of Labor Statistics, raising the unemployment rate to 3. 5 percent, the lowest in five decades.
The employment figures, which broke market expectations, showed that the country had regained all the jobs lost to the pandemic. “This puts an end to any concept that the economy is lately in recession,” says Justin Wolfers, a professor of economics and public policy. at the University of Michigan. ” It is shameless, directly, in each and every sense, the news that suggests that the economy is developing solidly, that other people are finding jobs. Not only is the hard work market being cured, but it has been completely cured.
The positive economic news comes at a time when gasoline costs have slowly declined since a peak in June, and Biden is expected to pass new legislation next week to boost production of PC chips in the United States. expand support for fitness insurance premiums and create the largest investment to fight climate change in U. S. history. USA
After months of devastating headlines about rising inflation, the fallout from Russia’s invasion of Ukraine and its appalling approval numbers, this week saw other breakthroughs suggest biden’s long-term policy could improve. The Kansas electorate vehemently rejected an anti-abortion amendment to replace the state. Constitution, an early sign that the Supreme Court’s ruling to overturn Roe v. Wade may motivate more voters than Democrats in this fall’s midterm elections. expansion of biden’s alliance. And even Republicans expressed approval for the announcement that the CIA had managed to kill al-Qaeda leader Ayman al-Zawahiri, one of the planners of the September 11, 2001, attacks.
Even Biden’s recent bout with COVID-19 has provided a contrast of how much things have replaced things under his watch. His ability to triumph over disease with mild symptoms highlighted how the widespread distribution of vaccines and therapies allowed Americans to get back to work. “The policies that helped put the pandemic in the rearview mirror are a big component of our macroeconomic history right now,” Wolfers says.
Republicans said the low unemployment rate underscores the suffering of U. S. corporations to locate enough staff and that Democratic policies to make physical care more affordable would discourage more people from joining the workforce. , and that the House could end up in Biden’s office by the end of next week, will “exacerbate the hard work shortage with lavish health care subsidies that provide cheaper health care for the unemployed than for those returning to work, in addition to overwhelming tax increases on ‘Made in America’ manufacturers,” Rep. Kevin Brady of Texas, the most sensible Republican on the space media and tactics committee, said in a statement. “None of this makes economic sense. “
Biden was pleased to have this debate, noting Friday that the physically powerful hard labor market is evidence that he is keeping his promise to steer the economy toward building the middle class. of, it’s a smart thing and it’s very backward. “